Volzhsko-Kamsky Commercial Bank

Categories / Economy/Finances and Credit
VOLZHSKO-KAMSKY BANK, a joint-stock commercial bank founded by a group of manufacturers and merchants with V. A. Kokorev at the head who served as a chairman of the board from 1878. A. F. Mukhin, director, board member, and finally chairman, was a de facto head of the bank in 1879-1906 and from 1912. The share capital amounted to 6 million roubles and increased up to 18 million roubles by 1914. The bank used raised funds and other resources to develop a network of 60 branches that in 1914 covered commercial centers of the Volga Region and the Urals, as well as Kiev, Kharkov, and Ekaterinburg. The leader among Russian commercial banks in 1890s, the bank dealt with financing domestic production, as well as issuing and distributing bonds of Russian rail carriers from the late 1890s on. The bank also took part in establishing Produgol Syndicate in 1906. The volume of transactions was high enough for the bank to rank 6th among all Russian banks by 1914. Although the bank never joined any bank group before, it had a relationship with the Russian-Asian Bank by 1917 via Strakheev and Batolin's Concern. It was then nationalized according to the Decree of the Soviet of People's Commissars of the Russian Soviet Federative Socialist Republic on December 14(27), 1917. The building of Volzhsko-Kamsky Bank was built by architect L. N. Benois at 38 Nevsky Prospect in the first third of the 19th century and partly re-built in 1898.

References: Бовыкин В. И., Петров Ю. А. Коммерческие банки Российской империи. М., 1994. С. 117-124.

O. A. Kubitskaya. Batolin
Kokorev Vasily Alexandrovich
Mukhin Alexandуr Flegontovich
Stakheev I.I.
Nevsky prospect/Saint Petersburg, city, house 38
Петров Ю. А., Бовыкин В. И. Коммерческие банки Российской империи. М., 1994 Russian-Asian Bank